Government workers in this province have seen a substantial increase in their long term disability rates over the last few years. Many have found their rates going up by as much as 45% in one year! It’s no wonder many people are starting to feel these rates becoming unaffordable.
Buying a personal disability plan might be a good solution. Most Newfoundland government workers can purchase a similar personal plan that guarantees no price increase from enrollment to age 65. These rates can also be substantially less than their current plan.
In one recent example, an Eastern Health worker was able to bring her rates down from $212 per month to $85 per month, with essentially the same type of coverage she had previously. That’s a whopping 60% decrease.
There’s no cost or obligation if you want to meet with one of our Certified Financial Planners about protecting one of your greatest assets – your future income. Request a meeting. You’ll be glad you did.